Ayala Pharmaceuticals Inc (ADXS)

[terry hallinan]

From the latest 10-Q:

The expirations of the existing patents range from 2015 to 2028 but the expirations can be extended based on market approval if granted and/or based on existing laws and regulations.

Page F-7
https://www.sec.gov/Archives/edgar/data/1100397/000149315215000831/form10-q.htm

Follow on patents extend a patent life based on additional information only. Patents are not renewable.

Essentially ADXS patents are owned by University of Pennsylvania though derived from the efforts of Prof. Yvonne Paterson, the intellectual founder of ADXS.

From the 10-K:

We successfully defended our intellectual property concerning our Lm-based technology by contesting a challenge made by Anza Therapeutics, Inc. (now known as Aduro BioTech), to our patent position in Europe on a claim not available in the United States. The European Patent Office (“EPO”) Board of Appeals in Munich, Germany ruled in favor of the Trustees of Penn and us, Penn’s exclusive licensee, and reversed a patent ruling that revoked a technology patent that had resulted from an opposition filed by Anza. The ruling of the EPO Board of Appeals is final and cannot be appealed. The granted claims, the subject matter of which was discovered by Dr. Yvonne Paterson, are directed to the method of preparation and composition of matter of recombinant bacteria expressing tumor antigens for the treatment of patients with cancer. The successful development of our immunotherapies will include our ability to create and maintain intellectual property related to our product candidates.

Page 7
https://www.sec.gov/Archives/edgar/data/1100397/000149315215000050/form10k.htm

There is much more on the page but it should be apparent Aduro's claim jumping hasn't been fully successful.

What the future will hold is known only to the omniscient but those betting on Aduro might should look at NLNK that has one pivotal trial in the bag for its novel allogeneic vaccine and another nearing full enrollment as described previously.

The wages of thievery are often quite lucrative but you need to be very clever. Whether Aduro is fully competent at espionage is unknown to me.

Best, Terry